FelCor Completes Common Stock Offering

April 14, 2015 04:05 PM Eastern Daylight Time

IRVING, Texas--(BUSINESS WIRE)--FelCor Lodging Trust Incorporated (“FelCor”) (NYSE: FCH) today announced
that it sold 18.4 million shares of its common stock pursuant to a
previously announced public offering (the “Offering”) at $11.25 per
share. The shares sold include 2.4 million shares of common stock
purchased by the underwriters, who exercised their overallotment option
in full. FelCor received net proceeds from the Offering, after deducting
underwriting discounts and commissions and expenses, of approximately
$198.5 million. FelCor will use the net proceeds from this Offering to
redeem its 8% Series C Cumulative Redeemable Preferred Stock and
corresponding depositary shares. This redemption is part of FelCor’s
long-term strategy to strengthen its balance sheet and reduce leverage,
improve its portfolio quality and enhance returns on investment. FelCor
intends to use the remaining net proceeds from the Offering, along with
cash on hand and proceeds from future asset sales, if and when
available, to facilitate this strategy, which includes investing in
future redevelopment projects and other growth opportunities. Pending
application of the net proceeds from this Offering, FelCor may invest
such net proceeds in short-term, interest bearing investments.

The Offering was made pursuant to an effective shelf registration
statement previously filed with the Securities and Exchange Commission
(the “SEC”). This press release shall not constitute an offer to sell or
a solicitation of an offer to purchase these securities, and shall not
constitute an offer, solicitation or sale in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful.

The Offering was made only by means of a prospectus and the related
prospectus supplement. Copies of the preliminary prospectus supplement
and the accompanying prospectus relating to these securities may be
obtained from: J.P. Morgan Securities LLC, Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or (866) 803-9204
or from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn:
Prospectus Department or by email to: dg.prospectus_requests@baml.com;
or by visiting the EDGAR database on the SEC's web site at www.sec.gov.

About FelCor

FelCor, a real estate investment trust, owns a diversified portfolio of
primarily upper-upscale and luxury hotels that are located in major and
resort markets throughout the U.S. FelCor partners with leading hotel
companies to operate its hotels, which are flagged under globally
renowned names and premier independent hotels.

With the exception of historical information, the matters discussed
in this news release include “forward-looking statements” within the
meaning of the federal securities laws. Forward-looking statements are
not guarantees of future performance. Numerous risks and uncertainties,
and the occurrence of future events, may cause actual results to differ
materially from those currently anticipated. Certain of these risks and
uncertainties are described in greater detail in our filings with the
SEC. Although we believe our current expectations to be based upon
reasonable assumptions, we can give no assurance that our expectations
will be attained or that actual results will not differ materially. We
undertake no obligation to update any forward-looking statement to
conform the statement to actual results or changes in our expectations.